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Retail

Administrators to close another 129 Blockbuster stores

Administrators to close another 129 Blockbuster stores

Sun 20 Jan 2013 10:22am GMT / 5:22am EST / 2:22am PST
RetailPublishing

Total store closure reaches 160 for UK rental chain

Administrator Deloitte has confirmed it will close another 129 of the 528 Blockbuster stores.

On top of the 31 closures already planned, that brings the total so far to 160.

The DVD and video game rental company went into administration on Wednesday last week, just days after entertainment chain HMV suffered the same fate.

Stores affected will run closing down sales and Deloitte warned that more closures may be announced in the coming weeks.

"Having reviewed the portfolio with management, the store closure plan is an inevitable consequence of having to restructure the Company to a profitable core which is capable of being sold," said Lee Manning, administrator.

"We would like to thank the Company's employees for their support and professionalism during this difficult time. We are also grateful to the customers for their continued support."

1 Comment

Kingman Cheng
Illustrator and Animator

945 161 0.2
Oh good grief... good luck to everyone who is affected not only at Blockbusters, but also HMV, Jessops and Comet.

Also some many small towns are going to end up like ghost towns at this rate too. We've had so many 1 shops open up in recent years.

Posted:A year ago

#1

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